FinTax Hour

Friday 25 October 2024, 11:30 a.m. India time.

Celebrating the “World Investor Week 2024” (14-20 October). Promoted by the International Organization of Securities Commissions (IOSCO), this global campaign highlights the importance of investor education and protection. Let's
raise awareness and support the initiatives of securities regulators to ensure a safer and more informed investment environment.

SEBI have organised several initiatives in this context.

The return on investment generally should be considered net of tax applicable on the income earned from investment in securities and income earned on its transfer of such securities.

In this context of raising awareness, the session will cover the key aspects of income-tax and GST implications of investing in insurance policy - life, Ulip, endowment, etc., fixed deposits, mutual funds, equity shares, debt securities, derivatives, by resident and non-residents Indian including of investment in securities in GIFT IFSC.

Speakers:

• Sandeep Jaiswal, Partner, Indirect Tax, Deloitte India
• Bahroze Kamdin, Subject matter expert
• Smita Parulkar, Subject matter expert
• Alifya Hakim, Subject matter expert

Wednesday 13 March 2024, 11:30 a.m. India time.

The Interim budget 2024 showed that the income-tax collections from individuals was more than the tax collections from corporates. Total taxpayers for AY 2021-22 with returned gross total income above Rs. 1 crores are 2,15,900 of which 61% (1,32,497) were individuals; and returned gross total income above Rs 10 crore are 20,304 of which 16% (3,261) were individuals.

Based on press articles there around 170 single family offices in India while there are 1100 single family offices in Singapore.

Deloitte International Wealth Management Centre Ranking 2021* -Switzerland leads in terms of competitiveness, size and performance. Singapore and Hong Kong are second and third for competitiveness, and the United Kingdom and United States come second in terms of size. Singapore is one of the leading private banking and wealth management centres in Asia.

This session will cover the key aspects of IFSCA Regulations for family offices to set-up in GIFT-SEZ-IFSC, the key structures that could be looked at, from India and IFSC tax and regulatory perspective, landscape of family offices in Singapore and its tax and regulations.

Subject matter experts:

• Sandip Shah, General Manager and HOD, IFSC and Strategy, GIFT City India
• Yvonne Lim, Head of Family Office business, DBS Bank Singapore
• Bahroze Kamdin
• Meenakshi Khurana, Director, Consulting, Deloitte India

Bookmark the FinTax hour page to view archives of previous webinars in the series and stay updated on upcoming sessions.

Friday, 12 January 2024, 4:00 p.m. India time.

The Mergers and Acquisition Market crossed USD 160 bn in 2022, with major deal transactions being in the financial services sector. However, many of the deals became effective only in 2023 following the due process of court approval for such mergers.  

This session will cover key aspects of tax and regulatory, processes and requirements to implement mergers and acquisitions, pre and post-effective date of the merger.

Subject matter speakers:

• Bahroze Kamdin
• M. S. Mani
• Alifya Hakim
• Sanjeev Shah
• Sagar J Shah 

Agenda:

For the AY 2023-24, more than 30.75 lakhs audit reports, (including about 29.5 lakhs tax audit reports) were filed on the income-tax portal till 30 September 2023. Those entities with transfer pricing applicable have time till 30 October 2023 to submit the tax audit reports.

Subject matter experts:

• Bahroze Kamdin
• Pritin Kumar
• Smita Parulkar
• Piyush Chaniyara
• Sagar J Shah 

Agenda:
This session covered key aspects of the various provisions under the Income-tax and GST laws relating to surveys, summons, and prosecution proceedings, directors liability, criminal proceedings, handling of these proceedings, and remedies available.

Subject matter speakers:
• Aarti Sathe, Independent Tax Counsel
• Bahroze Kamdin
• M. S. Mani
• Smita Parulkar

Agenda:
This session will cover key aspects of the OECD Pillar 2 Global Anti-Base Erosion Rules (GloBE), application to Indian companies, the transitional safe harbour rules, the broad calculations of the top-tax, the country by country reporting and its relevance for Pillar 2.

Subject matter experts:
• Bahroze Kamdin
• Prithwijit Chaki
• Anushree Jagnani
• Manish Shah

Agenda:
The financial year ends on 31 March 2023 and it is time for us to take stock of our income and pay advance taxes, also look at our investments / expenses to claim tax reliefs and our compliances for withholding tax, related party transactions and GST liabilities, and input tax credits. We will discuss financial well-being from tax perspective for individuals, and tax reliefs and tax compliances for corporates to be kept in mind for the year-end.

Subject matter experts:
· Alok Agrawal
· Sandeep Jaiswal
· Alifya Hakim
· Meenakshi Krishnamurthy
· Parag Gor

Agenda:
Tax (income-tax and GST) implications relevant for fintech companies: RBI guidelines on digital lending and tax impact; Buy Now Pay Later (BNPL): Tax implications; free receipt of technology or Intellectual Property and its tax implications; equalisation levy vis-à-vis royalty, withholding tax implications for cross-border payments or auto debits, ESOP taxation, FATCA/CRS compliance, and judicial decision.

Subject matter experts:
• K Baskar
• Sandeep Jaiswal
• Smita Parulkar
• Utkarsh Trivedi

Agenda:
In the backdrop of the all-new Crypto-Asset Reporting Framework (CARF) released by the Organisation for Economic Co-operation and Development (OECD) on 10 October 2022, we will discuss the following:
• Key provisions of the framework as well as what’s within the purview of crypto assets and the exclusions, the intermediaries covered by the reporting framework, reportable information, and the due diligence procedures
• Recent changes in tax and regulations in India for crypto-asset reporting and the implications of the OECD framework for India

Subject matter experts:
• Denise Marie Hintzke, Global Market Leader, Global Information Reporting (GIR), Deloitte US
• Bahroze Kamdin
• Manish Mandhyan

Agenda:
• Recent circulars/notifications and decisions on intermediaries of the capital markets – i.e., brokers, DP, stock exchanges, and clearing houses
• Cloud computing in the stock broking industry and the tax (direct, indirect, transfer pricing) implications thereof

Subject matter experts:
• Vivek Mathur
• Anushree Jagnani
• Rajeev Pallath
• Tejas Mehta

Agenda:
• Ind As 117 (IFRS 17) and its implications on the insurance companies in India
• Discussion on the tax (direct, indirect, transfer pricing) implications of adoption of Ind AS 117 (IFRS 17)
• Recent judicial precedents and circulars/notifications relevant from an insurance industry perspective

Subject matter experts:
• M.S. Mani
• Smita Parulkar
• Devang Buddhadev
• Hasmukh Rawal
• Sagar Shah

Agenda:
• Neobanks and tax differentiation
• Recent circulars/notification and judicial pronouncements – direct taxes, transfer pricing, indirect taxes

Subject matter experts:
• Bahroze Kamdin
• Samir Gandhi
• Sandeep Jaiswal
• Meenakshi Khurana